HOUSTON-Pinchal & Co. has decided to sell off a 27-building industrial portfolio totaling 7.65 million square feet. Located in nine states across the Midwest and Southeast, the portfolio is expected to fetch $350 million.

“This portfolio of class A industrial buildings is an opportunity to acquire core facilities at well below replacement cost,” says John Huguenard, head of national industrial investment sales and managing director for Jones Lang LaSalle. He and Peter Harwood, senior vice president of Jones Lang LaSalle, have been hired to market the portfolio. Mike Melody, co-head of real estate investment banking for Jones Lang LaSalle, and Jimmy Board, senior vice president of Jones Lang LaSalle, will provide debt assistance.

Replacement value for similar assets would be roughly $50 per square foot, Huguenard tells GlobeSt.com That translates to an overall replacement cost of nearly $383 million.